Title

Biotechnology and the development of food markets: retrospect and prospects

Campus Units

Economics, Center for Agricultural and Rural Development

Document Type

Article

Publication Version

Submitted Manuscript

Publication Date

2008

Journal or Book Title

European Review of Agricultural Economics

Volume

35

Issue

3

First Page or Article ID Number

331

Last Page

355

DOI

10.1093/erae/jbn014

Abstract

Biotechnology has had an important impact on the agricultural and food industries over the last 12 years by way of fast and extensive adoption of a few genetically modified (GM) crops. This has produced large efficiency gains, including higher yields and reduced costs of weed and pest control, as well as some environmental benefits. The expected development of crops with additional agronomic traits, and with output traits to improve the nutrition and health attributes of food products, holds the potential for even more pervasive impacts. Full realisation of such promises may require overcoming the constraining effects of restrictive GM product regulations.

JEL Classification

Q16, Q18, O33, L51

Comments

This is a working paper of an article from European Review of Agricultural Economics 35 (2008): 331, doi: 10.1093/erae/jbn014.